Massachusetts Financial Services Co. MA Invests $49.40 Million in ServiceTitan Inc. (NASDAQ:TTAN)

Massachusetts Financial Services Co. MA purchased a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) in the 4th quarter, Holdings Channel reports. The fund purchased 480,174 shares of the company’s stock, valued at approximately $49,396,000.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC purchased a new stake in ServiceTitan during the 4th quarter valued at $6,484,000. Diametric Capital LP bought a new position in shares of ServiceTitan during the fourth quarter valued at $889,000. Franklin Resources Inc. purchased a new stake in shares of ServiceTitan during the fourth quarter valued at $47,148,000. Alliancebernstein L.P. bought a new stake in ServiceTitan in the 4th quarter worth about $15,088,000. Finally, Wellington Management Group LLP bought a new stake in ServiceTitan in the 4th quarter worth about $3,092,000.

Insider Activity

In other news, CFO David Sherry sold 10,175 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $94.65, for a total value of $963,063.75. Following the completion of the transaction, the chief financial officer now owns 325,409 shares of the company’s stock, valued at $30,799,961.85. This represents a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Michele O’connor sold 5,494 shares of ServiceTitan stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total value of $520,007.10. Following the sale, the chief accounting officer now directly owns 89,302 shares in the company, valued at $8,452,434.30. This trade represents a 5.80 % decrease in their position. The disclosure for this sale can be found here.

ServiceTitan Price Performance

Shares of TTAN opened at $85.07 on Friday. The stock has a 50-day moving average of $95.86. ServiceTitan Inc. has a 52 week low of $79.81 and a 52 week high of $112.00.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Monday, January 13th. The company reported ($1.18) earnings per share (EPS) for the quarter. As a group, research analysts anticipate that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TTAN shares. Loop Capital dropped their price target on shares of ServiceTitan from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, March 14th. The Goldman Sachs Group initiated coverage on shares of ServiceTitan in a research report on Monday, January 6th. They set a “neutral” rating and a $100.00 price objective on the stock. Stifel Nicolaus cut their target price on shares of ServiceTitan from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Robert W. Baird began coverage on ServiceTitan in a report on Friday, December 27th. They set an “outperform” rating and a $117.00 price target on the stock. Finally, Baird R W upgraded ServiceTitan to a “strong-buy” rating in a research note on Friday, December 27th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $114.33.

ServiceTitan Profile

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.